Should We Raise Taxes on the Wealthy to Avoid the ‘Fiscal Cliff’? — Survey of the Day

Negotiations between President Obama and the Republican-led House of Representatives over the "fiscal cliff" are heating up. Some economists believe if a compromise isn't made by December 31 of this year, the U.S. economy could fall back into recession.

A big sticking point in the discussion is whether or not the Bush tax cuts on income over $250,000 should be allowed to expire, effectively raising the taxes of wealthier Americans. Obama favors this approach, Republicans oppose it.